Adamis Pharma falls to record low after COVID-19 drug trial misses main goal

DMK Pharmaceuticals

21/09/2022 13:52

** Shares of drug developer Adamis Pharmaceuticals Corp
 ADMP.O  fall 52.7% to record low of 17 cents before the bell
    ** Biggest pct loser across U.S. stock exchanges
    ** ADMP says interim data from its mid-to-late-stage trial
of Tempol, its oral antiviral drug targeting COVID-19, did not
meet main goal of study  urn:newsml:reuters.com:*:nGNX3VzPkX
    ** Tempol when compared to placebo did not demonstrate
statistical significance in clinical resolution of COVID-19
symptoms at day 14 
    ** Co says it is halting the trial, based on recommendation
by independent group of experts, citing low efficacy
    ** ADMP has worldwide license to use Tempol to treat
respiratory diseases including asthma and influenza
    ** Stock has fallen ~41% YTD through last close

 (Reporting by Ruhi Soni and Khushi Mandowara in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))